Google engineer arrested for $1M trading scheme

Federal prosecutors have arrested a Google security engineer, Michele Spagnuolo, for allegedly exploiting confidential Google Search traffic data to profit over $1 million on a prediction market. The scheme involved using non-public information to make highly informed bets on the Polymarket platform. This incident raises serious questions about data security and the potential for insider trading in novel financial markets. Spagnuolo faces multiple fraud and money laundering charges.